Mandate and Values

British Columbians deserve to feel confidence in their financial decisions. Whether they’re buying or selling a home, investing in their pension, borrowing or saving their money, or protecting themselves from unexpected loss.

BC Financial Services Authority (BCFSA) regulates and oversees financial services in British Columbia, including real estate services, real estate development marketing, mortgage services, credit unions, pensions, trusts, and insurance companies. Our goal is to help ensure these services are fair, accessible, and dependable. Because when financial services thrive, people thrive.

We’re building confidence in financial services.

Our Vision: Thriving Financial Services

Confidence is the foundation of every major financial decision. BCFSA safeguards that confidence by ensuring that financial services remain trusted, stable, and resilient.

Under our governing legislation, we help ensure financial institutions and professionals are trained, licensed, and follow the rules. We can investigate misconduct and unauthorized activity, ensure compliance with the rules and, where necessary, discipline various parties in the financial services sector.

We help ensure that:

• Financial institutions and pension plans remain solvent;
• Market conduct requirements are respected;
• Unsuitable individuals do not participate in financial service markets; and
• Through the Credit Union Deposit Insurance Corporation (CUDIC), eligible credit union deposits and non-equity shares (issued prior to January 1, 2020) are insured.

Learn more about us by viewing our Mandate Letter and Service Plan: Corporate Plans and Publications

Our Core Values

At BCFSA we’re committed to upholding a strong set of values which demonstrate that our work in the public interest is principled, fair and transparent.

• Integrity

  We act with honesty, openness and transparency and we hold ourselves accountable.

• Courage

  We think and act boldly to do the right thing.

• Innovation

  We embrace change and act creatively to fulfill our mandate.

• Growth

  We pursue opportunities to develop individually and as an organization.

• Collaboration

  We seek out and engage the best of what each of us has to offer, knowing we are stronger together.

• Equity, Diversity, and Inclusion

  We embrace equity, diversity, and inclusion and view it as a source of strength.

A Risk-based Approach to Regulation

BCFSA supervises and regulates credit unions, insurers, trust companies and pension plans to determine whether they are in sound financial condition and are complying with their governing laws and supervisory standards.

We use a risk-based supervisory framework to identify imprudent or unsafe business practices. Risk assessment is forward-looking. It allows us to identify issues or problems early on, and to take corrective actions when needed, so that there is a greater likelihood of a satisfactory resolution of issues.

By focusing on risk assessment, we are able to allocate resources effectively to institutions and plans with the highest risk profile.